Growing Demand for Innovative Solutions in Clinical Trials Services Drive Market Growth

Technology plays a vital role in almost all procedures in the healthcare sector, such as laboratory testing for self-care equipment and patient registration for data management, making it the major factor for growth of the clinical trial supplies market. According to clinical leader, new technologies such as real-world evidence (RWE), risk-based monitoring (RBM), and adaptive trials are the leading technologies in the field of clinical trials and are expected to be the driver for the growth of the market.

Data Bridge Market Research analyses that the Clinical Trial Supplies Market expected to reach USD 5,738.17 million by 2029 from USD 3,009.81 million in 2021, growing with a CAGR of 8.40% in the forecast period of 2022 to 2029. The increasing population and high prevalence of diseases is also prominent in the supply with higher growth rate which will likely increase the growth of the global clinical trial supplies market.

Increasing demand for clinical trials worldwide is expected to drive the market's growth rate

In recent times, the pharmaceutical industries have been under severe pressure to deliver drugs to world because of the increasing incidence of various chronic diseases. The high prevalence of chronic diseases is leading to the requirement for clinical trials for effective drug development. These drugs are available in the global market after clinical trials, therefore, the companies generally carry out clinical trials which is mainly depending upon the type of device or machine and drug. Moreover, the increasing population also s to a high rate of diseases; as a result, the demand for affordable and efficient drugs for treating such diseases as  central nervous system, cardiovascular and others are also likely to be high. Therefore, increasing demand for clinical trials worldwide is expected to drive the market's growth rate

 Report Scope and Market Segmentation

Segment Analysis:

The clinical trial supplies market is segmented on the basis of services, clinical phase, therapeutic uses and end user.

• On the basis of services, global clinical trial supplies market is segmented into storage, manufacturing and packaging and labeling, distribution, distribution.

The storage segment of services segment is anticipated to dominate the clinical trial supplies market

Storage segment is expected to dominate the global clinical trial supplies market with 41.92% market share owing to direct-to-site shipment approach and mixed alternatives combining local and central depots of clinical supplies in the clinical trial supplies market.

• On the basis of clinical phase, global clinical trial supplies market is segmented into phase I, phase II, phase III and phase IV. Phase III segment is expected to dominate the global clinical trial supplies market with 37.86% market share because it needs thousands of people to perform these experiments. These experiments goes for longer time period which further requires more services and supplies in various contract research organizations (CROs) and pharma companies.
• On the basis of therapeutic uses, global clinical trial supplies market is segmented into oncology, cardiovascular diseases, dermatology, metabolic disorder, infectious disease, respiratory diseases, CNS and mental disorders, blood disorders and others. Oncology segment is expected to dominate the global clinical trial supplies market with 33.00% market share due to the growing number of patients with cancer and increasing research on cancer in clinical trials.
• On the basis of end user, global clinical trial supplies market is segmented into contract research organizations, pharmaceutical and biotechnology companies.

The contract research organizations segment of end user segment is anticipated to dominate the clinical trial supplies market

Contract research organizations segment is expected to dominate the global clinical trial supplies market with 69.72% market share because most of the clinical trial experiments performed for medicines which are used for the treatment of diseases by contract research organizations. Moreover, contract research organizations also get government funding for the improvement of new drugs.

Major Players

Data Bridge Market Research recognizes the following companies as the major clinical trial supplies market players in clinical trial supplies market Movianto (U.K.), Sharp (Japan), Thermo Fisher Scientific Inc.,(U.S.), Catalent, Inc (U.S.), PCI Pharma Services (U.S.), Almac Group (U.S.), PAREXEL International Corporation (U.S.), Bionical Ltd. (U.K.), Alium Medical Limited (U.K.), Myonex (U.S.).

Market Development

• In 2022, Thermo Fisher Scientific announced its partnership with Medidata to optimize the speed of patient enrollment in clinical trial and clinical research site selection. This increases clinical trial planning and execution to hasten clinical trial in which datasets have been created from 26,000 clinical trial and approximately 8 million patients in more than 140 countries all over the globe.
• In 2021, PPD, Inc, which is a leading provider of clinical research services to the biotech and biopharma industries, was acquired Thermo Fisher Scientific Inc. for $17.4 billion. Thermo Fisher will assume PPD's net debt of around $3.0 billion as part of this acquisition.
• In 2020, Catalent, Inc launched new FlexDirect clinical supply services for patient. This service delivered sponsors, including pharmacy-to-patient service and site-to-patient distribution. These two services are combined with standard distribution of clinical supplies and provide a customized hybrid approach as required. Thus, it is advantageous for growth for the company.
• In 2020, Almac Clinical Services, a global contract pharmaceutical development and manufacturing organization, launched Tempod® 1000. This product has been designed to eliminate the administrative pressure for updating manual temperatures logs. This launch has aided to ensure better patient safety and promote the company's best digital practice in clinical studies.

Regional Analysis

Geographically, the countries covered in the clinical trial supplies market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in clinical trial supplies market during the forecast period 2022 to 2029

North America dominates the clinical trial supplies market owing to the presence of major key players and well-developed healthcare infrastructure in this region. Moreover, increasing number of healthcare companies conducting clinical trials, supportive availability of cost-effective products and government legislation are some of the other major factors that will further boost the market growth in this region.  

Asia-Pacific is estimated to be the fastest-growing region in clinical trial supplies market the forecast period 2022 to 2029

Asia-Pacific is expected to grow during the forecast period of 2022 to 2029 owing to the growing patient pool and increasing investment in the healthcare sector in this region. Additionally, the growth of clinical research, including low cost per patient in Asia Pacific nations and the presence of a large number of patients that are simply to recruit are some of the other major factors which will further boost the market growth in this region. 

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